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How can we help you?

If you have unsecured debt of under $10,000 and live in the Province of Ontario filing bankruptcy may not be the best option for you. We suggest you contact the Office of the Superintendent of Bankruptcy at 416-973-6441 to discuss your options, or you can visit their website here.

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My car

I am thinking of filing for bankruptcy, the only thing i own is my car worth about $8,000, will I lose my car if I go ahead?

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One Response to “My car”

A licensed trustee said...

Whether or not you will lose your car depends in part where you live. In Ontario, where I live, you are allowed to keep a motor vehicle worth up to $5,650 when you file bankruptcy. If you car is worth more, like yours is, you are required to pay the difference to you trustee in order to keep the car.

Use the links at the side of the page to find a trustee in your area and give them a call to find out how your car will be handled.